Marine Power

A word that sums up 2016: Busy.

I moved to a new department within VEO to find new challenges, and the marine segment at the Industry business unit gave me just that. Last year a large order from the German shipyard Meyer Werft instantly took VEO’s marine business to a whole new level.

The agreement with Meyer includes the electrification of 4 cruise liners and an option for further vessels. Half of the ships will be built at Meyer Werft’s shipyard in Papenburg, Germany, and the other half at the company’s shipyard in Turku, Finland. Around the time this annual report is being printed, we are starting our first Meyer equipment deliveries. Before the second week of 2018, our last deliveries for that first ship will be done. Deliveries for Meyer’s second vessel are scheduled to begin in late 2017. Our initial plan was to deliver 1 ship per year, but, if needed, I believe we can tighten the schedule. After completing a very extensive and demanding design process and a successful productising project – including comprehensive pre-design, modelling, testing and fine tuning – everything should be easier for further vessels. We build all switchgears and panels at VEO’s factory in Vaasa, so we have every possibility to be fast and flexible.

It’s been a great experience to reach the same wavelength with a new customer, Meyer Werft.

Ilari Kiljala

Project Manager, Industry

The marine business operates under strict safety norms, emphasising product usability and reliability. Our customer has high demands, and it was a pleasure to witness VEO’s ability to tailor products according to customer requirements. The yard and the shipowner also appreciated the possibility to see our demo boards in advance. We reached a point where all parties, as much as possible, agreed on the solutions and implementation – before the project had begun. As a bonus, VEO could also create a new low voltage cassette solution that we can utilise in other switchgear deliveries as well.

Although many balls still need to be kept in the air, it’s been a great experience to reach the same wavelength with a new customer. The Meyer Werft order will have our hands full for several years to come, but our cooperation with other shipyards and valuable local partners will, of course, proceed as usual. VEO’s focus will continue to be on cruise liners and specialised vessels, which are currently in very good demand.  I believe we’re on a growth path right now and – as VEO’s professionals keep walking that extra mile – this route will give us godspeed in 2017 as well.

MISSION STATEMENT

The company will continue its profitable growth strategy. In the long run, our goal is an annual growth of around 10% and continuous growth in profitability.

Business Segment Insights

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HR

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Substations

New investments are being prioritised instead of repairs and maintenance. My guess is that the investment pace will be high for the following 5 years.

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Wind Power

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Expert Services

Our customers clearly ask for our advice and want us to be present throughout the entire project – from execution to education and life cycle management.

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